We’re currently experiencing serious technical problems on the site, and as a result are unable to update the news – even though our market data is running as per normal. We sincerely apologise for any inconvenience caused and hope to be up and running again this evening. Thank you for your patience in this regard.
– David McKay (editor) & team

“Restoring investor, business and consumer confidence will require a concerted effort to address these pressing issues – and address them in the best interests of the country as a whole,” he said.

Efforts need to focus on the existing unemployment problem, which must be seen as a priority locally, in his view. Investor friendly policy amendments and structures to mitigate confusion around the Mining Charter, energy policy and dealing with state-owned enterprise debt are also major challenges that require urgent attention.

“The good news, however, is that SA has a relatively open economy – and a resilient business resolve. To survive the current landscape, improved productivity and efficiency as well as diversified skills and flexibility will be paramount. Businesses will also need to find ways to decrease infrastructure and reduce financial risk in their environments," says Macduff.

"And while growth will come from areas such as inbound investments, exports, investment in Africa and foreign acquisitions for example, the restructuring and rescue industry will have a critical role to play in helping business transition to new and more effective business models in a turbulent setting.”

In his view, business rescue legislation has opened many new avenues for underperforming or distressed businesses in SA – providing an alternative to liquidation.

TMA-SA will be hosting its inaugural National Turnaround Conference in October. Gregory Fine, CEO of TMA Global, based in Chicago, will be the keynote speaker at the event. He will discuss the current global turnaround scene as well as suggesting best practices for the turnaround industry in SA.